Ms Julie Bishop (Curtin, Liberal Party, Deputy Leader of the Opposition) Share this | Hansard source

My question is to the Treasurer. I refer the Treasurer to the recent $5 billion in profits this quarter of Australia’s big four banks, which is an increase of more than 15 per cent. How many second-tier providers of mortgage finance, who were keeping competitive pressure on the big four banks, have stopped lending, leaving the big four banks with 90 per cent of the mortgage market and record profits? What is the government doing about the prime residential mortgage-backed securities market which provided that much-needed competition to the big four banks?

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